Friendfeed, a news feed social network which lets people share their photos, links or posts in a customized feed, will be closed by Facebook Inc (NASDAQ:FB) this year, in April. A ReCode article reported on the news and discussed why Facebook is shutting down its Friendfeed.
“We’ve been maintaining the service for the last five years, but usage has been declining steadily and the community is now just a fraction of what it once was. Given this, we’ve decided that it’s time to start winding things down. Our thanks go out to the Friendfeed community for its many years of support,” Facebook Inc stated.
Friendfeed, which was acquired by Facebook Inc (NASDAQ:FB) back in the year 2009, was one of the leading networks to provide real-time updates for social feeds. According to Facebook Inc, Friendfeed is losing its potential to grow and the community has become very small, so it’s time to end this part of the business. Friendfeed will be officially closed on April 9 and its users will be able to see their posts, messages and photos up to this date, after which they will disappear.
At the time of Friendfeed’s acquisition, Facebook Inc (NASDAQ:FB) was planning to earn a lot from this opportunity and it was considered a big deal at the time, as the acquisition was valued at $50 million. Bret Taylor, who was the founder of Friendfeed, became Facebook’s CTO as the company was looking forward to growing its business through this acquisition and expecting huge benefits from Friendfeed, but its usage started declining and after a period of five years, it is going to be shut down by Facebook Inc completely.
Besides having its Messenger, Facebook Inc (NASDAQ:FB) also bought WhatsApp last year for $19 billion with an objective to increase its market share and grow its user base because WhatsApp is one of the leading messaging apps at present and it proved to be a great business opportunity. After hosting the community for five year, Friendfeed is not productive anymore. While Facebook has made the tough decision to shut down Friendfeed next month, the company will keep on searching for good business opportunities that will bring a lot more new features to its users in future.
I just made 84% in 4 days by blindly imitating a hedge fund’s stock pick. I will tell you how I pulled such a huge return in such a short time but let me first explain in this FREE REPORT why following hedge funds’ stock picks is one of the smartest things you can do as an investor. We launched our quarterly newsletter 2.5 years ago and not one subscriber has, since, said “I lost money by EXACTLY following your stock picks”. The reason is simple. You can beat index funds by creating a DREAM TEAM of hedge fund managers and investing in only their best ideas. I just made 84% in 4 days by blindly imitating one of these best ideas. CLICK HERE NOW for all the details.
